WANGANUI CO-OPERATIVE BUILDING SOCIETY.

Wanganui Chronicle, Volume L, Issue 12145, 8 December 1908, Page 7

WANGANUI CO-OPERATIVE BUILDING SOCIETY.

ANNUAL REPORT,

Following is the report to be presented at the annual meeting of the above Society on December 9th:— Your Directors submit herewith the seventh annual report and balance sheet The profit for the ■-• year is £336 63, equal to 7s ?d p?r share on the •928 shares remaining in the Society. During the year 14 appropriations have been made "by ballot and 13 by sale, thg latter realising £282, an average of £21 13s lOd per £150. The total loans granted by the Society sinco its inception amount to £25%,950, of which sum £6899 has been repaid, leaving a balance of £19,051. The arrears of repayments on balance day were £23. The arrears of subscriptions wero £85 Bs.

Your Directors continue to give close attention to the business of" the Society, and in every instance amnle security is" held from members having loans _ In accordance with rule 25, the following. Director' retire, bu-t ''r"1" -"•ligibV, are candidates for re-election:— Messrs G. Caiman, T. Dickson, and N. Meuli. In accordance with rule 27, Mr J. Thoro retires from the D rectorate, but, being eligible-, is a candidate for re-election.

A vacancy has occurred on the Board during the year, through the resignation of Mr AY. Armstrong, vice-chair-man, owing to his leaving the district. Tho vacancy wan fillocl by tho appointment of Mr =T. Thorp. You will also bo required to ehct an auditor for the ensuing year. , Mr J. S. Morton, the retiring auditor, is eligible for re-election, and is a candidate for tho office-.

An appropriation by ballot of £3.00, in twf. sum of £150 each, will bo held after the close of the ordinary business of the annual general mrobing.